Underlying Borrower means, with respect to any Purchased Asset that is a Mortgage Loan, the Mortgagor, and with respect to any Purchased Asset that is a Mezzanine Loan, the Mezzanine Borrower.
Underlying Borrower means, with respect to an Underlying Loan, the issuer(s) or obligor(s) and any guarantor thereof pursuant to the terms of the related Underlying Loan Documents.
Examples of Underlying Borrower in a sentence
There shall be one Underlying Borrower Loans’ Batch for each Loan Agreement.
The proceeds of Working Capital Loans shall be used by the Borrower only (1) to pay Working Capital Expenses in accordance with the applicable Approved Business Plan or (2) if required by an Underlying Borrower, to replace an Outstanding Letter of Credit in accordance with Section 6.12.
More Definitions of Underlying Borrower
Underlying Borrower means the obligor on an Underlying Note and the grantor of the related Underlying Mortgage.
Underlying Borrower each borrower or maker or obligor under any Underlying Financing and each cosigner thereof.
Underlying Borrower means each Person identified as such, or Underlying Borrower Guarantor, in each case, under each Underlying Financing as identified in the applicable Underlying Financing Specification.
Underlying Borrower means the borrower or obligor, as such term may be defined in the Asset Finance Documents.
Underlying Borrower means (a) in the case of any Pledged Asset that is a Mortgage Loan or a Mezzanine Loan, the obligor under a note or credit agreement, (b) in the case of a Mortgage Loan, the grantor of the related Mortgage, and (c) in the case of a Junior Interest the obligor under the note, loan agreement or credit agreement evidencing the loan in which such Junior Interest is granted.
Underlying Borrower means [________________], a(n) [________________].